ByLarry Light,
Senior Contributor.
A lot of Americans are approaching retirement age without the assets to fund retiring. And many are justifiably worried about the situation, a new study shows.
The investment firm Schroders commissioned the survey asking retired Americans how they are navigating the shortfall. The answer was: not well.
Inflation, for one thing, weighs on them, the Schroder study noted. Sure, the Consumer Price Index’s growth has slowed since the end of the pandemic, when a re-opening of the economy found too few goods available to meet hungry demand. As of September, the CPI had climbed 2.9% from 12 months prior, which was about a third of the rate right after COVID-19. And inflation boosts are cumulative. Overall, prices have climbed more than 15% since the end of the pandemic.
